FTM break out the descending channel and move forwards to the first static resistant line. I draw the the price movement path with more probability.
By breaking out the leading resistance levels, TRX can reach the targets of 0.12 and 0.16 in the short term.
Orange lines indicate a long-term channel in the weekly time frame. Elliott Wave Analysis is also based on weekly timeframes. Two scenarios were proposed based on daily time frame. The currency is currently struggling with its historic line of support. Two possible scenarios: First: complete the third wave of correction and reach the price of about $ 350. Second:...
Based on the Elliott waves analysis, it seems that the price has started the wave 5.